{"data":{"id":"us-ky/krs-251.500","jurisdiction":"us-ky","citation":"KRS 251.500","heading":"Changes that make license issued under this chapter invalid -- Duties of","body":"licensee when change occurs -- Audit and examination authorized -- Changes\nthat invalidate licenses issued under this chapter.\n(1) A license issued under the authority of this chapter shall become invalid upon:\n(a) The change of management;\n(b) Cessation of operations;\n(c) Change of partners in a partnership;\n(d) Change of corporate structure of a corporation;\n(e) Failure to remit license fees or fines; or\n(f) A sale.\n(2) A licensee shall immediately notify the department as to any change and shall\ndeliver his license to the department together with a notarized statement setting\nforth the arrangements made with depositors for final disposition of grain in storage\nand for fulfilling any current obligations.\n(3) If there is to be a successor, the successor shall apply for a new license.\n(4) If there is a change of management or cessation of operations, the department may\ncause an audit and examination to be made. In these cases , all records required in\nthis chapter shall be available to the department until the department is satisfied that\nall obligations have been met.","path":["KRS Chapter 251"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=49426","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:05Z","sha256":"23a8a3212d864e8292dfeb20c85d511163ef9c89aa775d130ef3dc8de5b87d13","source_id":"us-ky","stale":false,"prev":"us-ky/krs-251.490","next":"us-ky/krs-251.510"},"notice":"GroundRules: Original legal text. Not legal advice."}